Cryptocurrency faucets are website, that dispenses rewards in exchange for completing a captcha. The main source of income of faucet websites is advertisement. In this tutorial I will introduce you to Coinpot which is a microwallet centralizing the rewards from 6 different faucets and offering additional services.
Faucets are an amazing way to earn your first cryptocurrencies before going to the more complexe aspects of blockchain technology. For a little of your time you will be able to create a small portfolio of various cryptocurrencies. Although the value of the rewards you’ll get after completing captchas is low, your portfolio may gain value over the months as the price of various digital currencies is growing.
What is Coinpot?
Coinpot is a microwallet system which allows you to deposit and to withdraw Bitcoin, Bitcoin Cash, Dogecoin, Litecoin and Dash. Therefore you can deposit money from a wallet and you can also withdraw your money from Coinpot and send it to your wallet but to be able to do that you need to reach a threshold.
Coinpot is very simple to use, thus it is a good solution for beginners who want to earn and « play » with cryptocurrencies. However, once you reach a more important amount I strongly suggest to transfer your cryptocurrencies from Coinpot to external wallets which are more secured.
The main page of Coinpot shows you the amount of cryptocurrencies you have, the recent transactions and the sources.
Setting up an account
Go to the Coinpot website and create an account using your email address as well as a strong password. In order to get your rewards transfered to the microwallet you have to register with the same email address you are using for your Coinpot account.
Currently Coinpot works with 6 different faucets:
- Moondash – This faucet gives you Dash
- Moonliteco – This faucet gives you Litecoins
- Moondoge – This faucet gives you Dogecoins
- Moonbit – This faucet gives you Bitcoins
- Bitfun – This faucet gives you Bitcoins. You can increae (or lose) your reward with various games.
- Bonus Bitcoin – This faucet gives you Bitcoins. You can claim your reward each 15 minutes.
Using Coinpot faucets
Using this faucets is very simple. You just have to go the faucets’s website and login with the same email you used to create your Coinpot account. Once you created your account you can start completing the captchas and earn your first cryptocurrencies!
The faucets are recharging automatically once you claimed your rewards, thus you can use them several times a day. Coinpot faucets also offer a daily bonus. The reward will increase by 1% for each day in a row you have used the faucet. Be careful, if you miss one day the bonus will be reset and you will have to start over!
Other functionalities of Coinpot
You can also mine Bitcoin, Bitcoin Cash, Litecoin, Dash and Dogecoin on Coinpot. To use this functionality you have to select the currency you want to mine and then click on « mine ». Coinpot is using your CPU to mine cryptocurrencies, thus it is quite slow and the earnings are very limited. However, mining with Coinpot is a good solution if you want to reach the threshold and withdraw your money faster.
Coinpot also offers a converting tool. You can convert all the currencies supported by Coinpot. This is also a good solution if you want to reach the threshold and withdraw your money faster. You just have to choose a currency you’d like to have and then convert all the others.